The Complete Guide to Single-Family Rentals
Check out the latest data on single-family rentals across the nation.
The table below shows the rental prices for 3-bedroom houses in each city, based on their median rent prices. This data also shows the change in rent prices for 3-bedroom houses as compared to last year. This data targets 3-bedroom houses for rent as a representation of the single-family rental (SFR) market. Check out this article for more information on Dwellsy's data methodology.
This analysis is based on Dwellsy’s industry-leading data set, which draws from our inventory of over 760,000 listings.
3-Bedroom Rent Prices for May '23 by MSA
Which city has the cheapest 3-bedroom houses for rent?
For the third consecutive month, the least expensive city to rent a 3-bedroom house is Flint, MI. However, this month Flint is also tied with Fort Wayne, IN. Both cities had a median rent of $850/mo for 3-bedrooms in May 2023. The median rent price for a 3-bedroom in Flint is the same as it was in May 2022, however the median rent for Fort Wayne has decreased 12.8% since last year.
Which city has the most expensive 3-bedroom houses for rent?
According to May's data set, the metropolitan statistical area of Los Angeles, CA is the most expensive rental market for 3-bedroom houses for the third month in a row. The median rent for 3-bedrooms in this area is $4,099/mo, which is 2.5% more than the median rent in LA for May 2022.
Which city has seen the greatest increase in rent prices for 3-bedroom houses?
Albany, GA saw the greatest increase in rent prices for a 3-bedroom house. Since last year, the median rent for 3-bedrooms in Albany has increased 24.9% making the median rent for May 2023 $1,230/mo.
Which city has seen the greatest decrease in rent prices for 3-bedroom houses?
Amarillo, TX has seen the most substantial decrease in median rent for 3-bedroom houses. Where many other markets have grown more expensive, median rent for 3-bedroom houses in Amarillo has gone down 13.0% since May 2022, leaving the median rent for last month at $1,218/mo.
Looking for more data on the current rental market? Check out these articles!
Complete 2022 guide to rent prices
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